UniSource considers options after acquisition rejected

CarolynPritchard

SAN FRANCISCO (CBS.MW) -- UniSource Energy
UNS, -1.17%
said late Tuesday that it is considering its options after the Arizona Corporation Commission voted to reject Saguaro Utility's proposed acquisition of the company. UniSource Energy could ask the ACC to reconsider its ruling, the Tuscon, Ariz.-based utility company said in a statement, or the acquisition agreement could be terminated by Saguaro or UniSource itself. Any motion for reconsideration of the ACC's ruling would have to be filed within 20 days of the issuance of its written opinion and order, which is expected in a week. UniSource said it does not expect to receive the regulatory approvals needed to close the deal.

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